National City Bank Provides SBA Loan to Buy Servpro Franchise

Need a loan to purchase a Servpro franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Servpro franchise shouldn't be overly burdensome. In 2005, National City Bank issued an SBA franchise loan to an entrepreneur in Lexington, Kentucky. Because Servpro was registered with the SBA's registry of franchises, this Kentucky small business loan was issued on an expedited basis.

SBA Loan Borrower

ROBERTS VENTURES, LLC
Lexington, KY 40509

SBA Loan Lender

NATIONAL CITY BANK
101 S 5TH ST
LOUISVILLE, KY 40202

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

562910 - Remediation Services

Loan Approval Date

1/26/2005

Loan Approval Gross Amount

$110,500

Loan Approval from the SBA

Of the total $110,500 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $110,500 loan. Remember, feel the fear, and do it anyway.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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